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the middle class. >> how about state and local income taxes? that's another run right there. there are so many, jared. it's just simpson/bowles. why didn't your president -- why didn't he take up the simpson/bowles and run with it? >> this is an important point, jared. jared, let's focus on this, what arthur is saying. everybody in town, everybody in washington has a romney-like tax reform plan, whether it's the brookings tax policy center, they have one. >> he has a 28% -- >> you have simpson/bowles, and now you have the romney plan. your man's the only guy who thinks tax reform means higher tax rates. you're the only one. >> can i please respond here? >> i want you to. >> in every single budget he has produced, there has been a cap on itemized deductions for people above $250,000. they can only deduct the 28%, not 35% or 39%. and it raises half a trillion dollars over ten years. it's in every one of his budgets. please don't tell me it's not. i can show you where it is. >> arthur laffer, explain this to me. >> the key here is lowering rates. jared, i do agree with you, we need to raise
is now an island. there is also now the concern that conedison the local utility has raise that had they may have to do preemptive power outages, if it looks like some of the low-lying areas are going to flood to protect the underground equipment. they would do power outages, so so much for the utility of having utilities and elect call wires under a ground. that can be an issue as well when storm surges rise. we'll be back with more as our special coverage goes on. guys, back to you. >> thank you so much, scott. that's why we have so many issues with the exchange. that's the neighborhood where the new york stock exchange is. back to the dramatic picture in midtown manhattan, a construction hanging from a skyscraper. robert frank is live in new york city with more on that. robert? >> reporter: thanks, guys. well, i'm standing on 57th and 8th, just a couple of blocks from where this crane is hanging like a giant sword over midtown manhattan. here's what we know so far. at approximately 2:45 today the boom of that crane was blown over the cab, over the top and is now hanging over the
. the rivers now meet the ocean. it's going to change local tide tables and navigational charts. we're just getting our arms around it. we were among the first few on a beach today looking at houses that are gone. neighbors that are gone. gas lines are open. it's a terribly scary atmosphere. they don't have their arms around it yet. but that's what we've been talking about during our coverage of this storm. >> brian, i grew up as a kid in deal, new jersey, right on the water towards the west end. it was right off ocean avenue. is this storm just taking that all out, going all the way up north and west? is that what's happened too? >> you know, i know it very well. long branch got hit very hard. the boardwalk there. spring lake got hit very hard. i haven't heard about deale. president garfield died if a house this close to the beach overlooking the water. but all of these communities are in the same spot. it mattered your prok sim t eed the hotel. saw i house today on market valued at $15 million torn to shreds and now it will be sold for a plot of property on the beach. >> did we learn enou
surprised yesterday to learn that mitt romney was talking about tax policy to a local denver, colorado station where he essentially unveiled a new program with more details. he said his 20% tax cut would only allow $17,000 worth of deductions. if you have $17,000 bucket of deductions, that's all you're going to get and by the by it may even be a small are bucket for upper income people who are going to get a big tax cut. now, let me ask you, why then? why yesterday? why this local denver station? why didn't you all come out and first of all tell me first and, second of all, why didn't you tell the rest of the world you were finally putting meat on the bones of the tax reform plan? i don't get it. >> look, let me set you state on this. first of all, governor romney has a very bold tax plan that's designed to achieve more economic growth and lower the burden on middle-class taxpayers. as part of lowering those rates across the board, he believes we have to broaden the base. he talked about this as an illustrative example of some of the discussions that we're going to have. you obviously
'm looking right at the sheet. government -- federal, state and local was only up 10,000. look, i know obama is going to crow about it. any president would crow about he needed some good news after getting walloped and having his clock cleaned at the debate. but my other point, jack -- >> larry, wait a minute, let me make one point. i've been reviewing businesses all week, 14 of them, okay, and not one of them is showing stronger growth in the third quarter than they did in the second. some are equal to the second, some are a little worse than the second. the economy was revised down in the second. it's implausible that you could be running at a 5% gdp growth rate, which is what these numbers are implying. >> the nonfarm payroll number was lousy. you're right about that. the nonfarm payroll and private sector numbers, 114,000 and 104,000 were lousy so i agree with that point. i want to challenge you on one other point, okay? the isms for manufacturing and services both outperformed. now they're walking back to the mid 50s. that shows better growth. maybe even 3% growth. car sales at 15 milli
debate. every single poll shows he's picked up 5, 6, 7 points. some of these local battleground states picked up 8, 9 points. is does that change your stock market outlook from bear to bull? >> you get rid of obama care and 3.8% tax on investment income and get the tax on medical device makers, larry. >> i will bet you $20 right now. i'll make a romney $10,000 bet that obama care is not repealed. >> i'll bet you it will be repealed, but i'll buy a gift for your new daughter. >> thank you. >> if romney wins, which was not expected a week ago but is now more expected, if he wins what is the stock market impact? is it greater than earnings and the federal reserve? how do you assess a romney victory? >> what becomes important is the effect on capital gains and dividend taxes. we as investors view asset investments on an after-tax basis. they make those particular investments more attractive, and we saw this with respect to to t cool stocks. >> the average small business has 2.5 employees, the average is over 5. small businesses get a boom in that. >> i don't disagree with what you're sayin
dollar limit, for example, on charitable deductions and health care deductions and state and local tax deductions, and if you put a dollar limit on that, grover, you make a bloody fortune at the upper end, so their tax rates at the margin would come down but their deductions would be lost. that would balance it in a revenue neutral way, and i'm going to throw in economic growth, grover. that will get to you 4% xhieconc growth which throws off -- >> we've been there, larry. >> the economic growth is the most important part. what we have with obama, if obama had had the kind of growth that reagan did from the bottom of the recession, there would be 10 million more americans at work. >> it's a very different recession. >> 10 million americans not working because obama spent money and raised taxes rather than -- >> a very different recession. the collapse of the housing bubble. >> dean, i don't want to go through the housing bubble. >> i don't want to either, but we did. >> the housing bubble is not going to come up for debate. i'm stick together debate tonight, and joe biden has been out
of the motion. and it is on the right-hand side of motion. we got hit hard in the local metro area. it has been tough. >> todd gross thank you very much. >> it is going to have an impact. >> it will. if you are not a motivated voter. then you don't turn out. >> markets tomorrow open. it might be very, very interesting. stay tuned for our coverage of it tomorrow. and it will be very interesting. they say the reset that has to happen. coordination of trading floors. bob did a great job of highlighting the unknowns. it is going to be a moment tomorrow morning. here is where the dow closed on friday. i was just going to say it felt so long ago. it was higher by 297 and the s&p 500 closed. will people be raising cash for rebuilding. that is all to be answered tomorrow. >> that is going to do it for this special report. i'm michele. >> be sure to tune in tomorrow for continued coverage. you can also monster the latest. good night. [ lisa ] my name's lisa, and chantix helped me quit. i honestly loved smoking, and i honestly didn't think i would ever quit. [ male announcer ] along with support, chantix
they go to their local dmv. >> once again, i've got some numbers here. 70%, the military balloting, 70% down in virginia. 70% down in ohio. 46% down in florida. that just happens to be key swing states, kyndra. again -- >> it's appalling. >> military tend to vote about 3/5 for republicans. again am i too cynical about this? it almost sounds like a conspiracy. >> you know, i don't know what the motivation is. but i know that it's the pentagon's job to do their job. and i know that president obama really ought to be stepping up for service members and taking care of soldiers and making sure that they get the right to vote. look, if you were going to ask them to come up with a plan to impede military voting, i don't think they could do a better job of it. not helping soldiers get absentee ballots, not doing what they're supposed to do under federal law is definitely impeding military voting. >> good luck, kyndra rotunda. this whole story is an outrage. i wish the best for you. >>> we're going to switch topics. mainstream media's vendetta for mitt romney. or is it against mitt romney? last
spontaneous administration. she had to know that security calls were being made by the local consulate and inside the state department and yet she went along with the party line. you're saying her husband is trying to find a way to extricate her. how is he going to do that? >> bill is concerned and this is from my sources in the clinton camp that hillary will be thrown under the bus by barack obama and the chicago gang running his campaign and he has reached out to friends in the legal profession to figure out if she's number one, subpoenaed and in her memos and her documents are subpoenaed. should she appear or say this is executive privilege and not appear. >> she's in a pretty tough spot andy she had that video going into pakistan and stood by the presidents literally when the caskets of the bodies were at the dover airport and they stayed with the story. >> and they're thenning as thiefs and they both conjured up the same b.s. story about the video and the spontaneous demonstration and everything here has been disproven. in other words, they're in this thick as thieves, ed klein. >
of the damage that happened last halloween and the potential for a frankenstorm, utilities and local governments across the northeast are putting crews on standby to deal with fallen trees and damage to power lines and making plans for shelter. power companies are asking employees to cancel planned vacation. >> halloween used to be just a pretend scary, not last year. probably not this year either. seema mody, thanks very much for the report. >>> coming up on "kudlow," leon panetta, defense secretary, he continues the white house cover-up over benghazi and he tries today to worm his way out of protecting our people in the consulate. that story up next. ♪ ♪ [ male announcer ] how do you engineer a true automotive breakthrough? ♪ you give it bold new styling, unsurpassed luxury and nearly 1,000 improvements. introducing the redesigned 2013 glk. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. >>> welcome back to "the kudlow report." i'm larry kudlow. in this half hour, how bad is europe? american companies are laying off their euro wor
Search Results 0 to 10 of about 11